SC Establishes Fintech Cooperation With Three Financial Centres

Last update: 14/09/2017

KUALA LUMPUR, Sept 14 (Bernama) -- The Securities Commission Malaysia (SC) has signed a series of innovation cooperation agreements with three regulators in major financial centres, in a move to spur greater cooperation in facilitating and regulating innovations emerging within the digital finance industry.

The SC said it had established financial technology (fintech) bridges with the Hong Kong Securities and Futures Commission, Dubai Financial Services Authority and the Monetary Authority of Singapore.

This follows the first agreement signed between the SC and the Australian Securities and Investments Commission in June 2017, it said in a statement today.

It said the fintech bridges would facilitate greater information sharing on emerging trends and regulatory developments, as well as, facilitate referrals of innovative businesses seeking to operate in each other´s jurisdictions and the exploration of potential joint innovation projects.

The efforts would help shape the regulatory approach and encourage the growth of digital finance within the country, it said.....